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CRESCO LABS INC - CRLBF STOCK NEWS

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CRESCO LABS INC (CRLBF) is an Illinois-based medical cannabis company licensed to develop and operate medical cannabis cultivation centers in police districts 5, 9, and 21. The company exceeded the state's qualifying standards and received the highest scores among cultivation center applicants, securing three out of 18 total awarded cultivation licenses under the Illinois Medical Cannabis Pilot Program.

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Cresco Labs expands partnership with Khalifa Kush to exclusively cultivate, manufacture, and distribute premium cannabis products in Massachusetts. Flower and pre-rolls will be available at Sunnyside dispensaries starting July 22.
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Cresco Labs opens two dispensaries in Pennsylvania, expanding access to medical marijuana products. The dispensaries are located in Washington and Somerset, easily accessible to patients and caregivers. They will offer a wide range of products from Cresco Labs' branded portfolio.
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Cresco Labs (OTCQX:CRLBF) continues its expansion in Florida with the opening of a new Sunnyside dispensary at 8717 SW 24th St., Miami, enhancing its retail presence to 29 locations statewide and 64 nationwide. The new facility aims to serve the growing patient base in Miami-Dade, the eighth most populous county in the U.S. with nearly 2.7 million residents. The store offers a broad range of cannabis products from Cresco's branded portfolio, including Cresco, One Plant, and Good News. CEO Charlie Bachtell emphasizes the company's commitment to reaching more patients in populous regions. The store operates Monday to Saturday from 9 AM to 8 PM and Sunday from 9 AM to 6 PM, allowing for both in-store and online orders.

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Cresco Labs reported annual revenues of $843 million for 2022, marking a 3% year-over-year increase. Excluding exited California operations, adjusted revenues grew 6%. The company achieved a record 61 million branded units sold and 4.6 million retail transactions, up 37% and 15% respectively. Despite a $215 million net loss due to $141 million in impairment charges, Cresco generated positive operating cash flow of $19 million. The fourth quarter saw a revenue decline of 8% year-over-year, with adjusted gross profit at $90 million. Management remains focused on optimizing operations and maintaining leadership in branded cannabis products.

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Cresco Labs (CSE:CL) (OTCQX:CRLBF) has expanded its retail presence in Florida, opening new dispensaries in Palm Harbor and Lake Worth, increasing its total Florida footprint to 28 dispensaries and nationwide store count to 63. This growth follows Cresco's achievement of serving nearly one million customers at its Sunnyside stores this year, driven by a diverse product offering and excellent customer service. The new locations will support local patient communities by providing a wide range of cannabis products.

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FAQ

What is the current stock price of CRESCO LABS (CRLBF)?

The current stock price of CRESCO LABS (CRLBF) is $0.9 as of December 20, 2024.

What is the market cap of CRESCO LABS (CRLBF)?

The market cap of CRESCO LABS (CRLBF) is approximately 374.6M.

What is CRESCO LABS INC (CRLBF)?

CRESCO LABS INC (CRLBF) is an Illinois-based medical cannabis company licensed to develop and operate medical cannabis cultivation centers.

Where is CRESCO LABS INC (CRLBF) located?

CRESCO LABS INC (CRLBF) is based in Illinois and operates in police districts 5, 9, and 21.

How many cultivation licenses did CRESCO LABS INC (CRLBF) secure?

CRESCO LABS INC (CRLBF) secured three out of 18 total awarded cultivation licenses under the Illinois Medical Cannabis Pilot Program.

What sets CRESCO LABS INC (CRLBF) apart from other cannabis companies?

CRESCO LABS INC (CRLBF) stands out for exceeding the state's qualifying standards and receiving the highest scores among cultivation center applicants.

What is the significance of CRESCO LABS INC (CRLBF) in the cannabis industry?

CRESCO LABS INC (CRLBF) plays a key role in the medical cannabis sector by developing and operating cultivation centers in Illinois.

How does CRESCO LABS INC (CRLBF) contribute to the community?

CRESCO LABS INC (CRLBF) contributes to the community by providing medical cannabis products and services through its cultivation centers.

What licenses does CRESCO LABS INC (CRLBF) hold?

CRESCO LABS INC (CRLBF) holds licenses to develop and operate medical cannabis cultivation centers in Illinois.

What are some of CRESCO LABS INC (CRLBF) recent achievements?

CRESCO LABS INC (CRLBF) recently received the highest scores among cultivation center applicants and secured three cultivation licenses under the Illinois Medical Cannabis Pilot Program.

Is CRESCO LABS INC (CRLBF) publicly traded?

Yes, CRESCO LABS INC (CRLBF) is publicly traded under the symbol CRLBF.

How can I stay updated with CRESCO LABS INC (CRLBF) news?

Stay tuned to the latest news and updates from CRESCO LABS INC (CRLBF) through various news sources and the company's official announcements.

CRESCO LABS INC

OTC:CRLBF

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CRLBF Stock Data

374.59M
271.34M
0.66%
5.5%
Drug Manufacturers - Specialty & Generic
Healthcare
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United States of America
Chicago